docs: Update the Telemetry page to match the new behaviour in the code

website/docs/reference/telemetry.md

@@ -21,10 +21,18 @@ You can get the current status of the service by calling the `http://electric-ho
 
 Metrics, traces and logs are exported using the OpenTelemetry Protocol (OTLP). You can configure the OpenTelemetry Exporter for Electric using the following environment variables.
 
-| VARIABLE      | Description     |
-|---------------|------------|
-| OTEL_EXPORT   | `debug` outputs telemetry data to stdout. `otlp` sends the telemetry data to an OTLP endpoint  |
-| OTLP_ENDPOINT | The exporter endpoint url |
+| VARIABLE      | Type      | Description     |
+|---------------|-----------|-----------------|
+| OTLP_ENDPOINT | `URL`     | An OpenTelemetry collector endpoint url. |
+| HNY_API_KEY   | `string`  | API key for exporting to Honeycomb.io. |
+| HNY_DATASET   | `string`  | Dataset name for Honeycomb.io. |
+| OTEL_DEBUG    | `boolean` | Enable or disable debug logging of telemetry data to stdout. |
+
+Electric enables export of telemetry data when it is configured with an `OTLP_ENDPOINT`.
+
+There is builtin support for [Honeycomb.io](https://www.honeycomb.io/): telemetry data can be exported directly to it by specifying `OTLP_ENDPOINT=https://api.honeycomb.io` and adding at least the `HNY_API_KEY` configuration option.
+
+In order to use other telemetry data collectors, you'll need to run the [OpenTelemetry Collector](https://opentelemetry.io/docs/collector/) and include the exporter of choice in its configuration file along with any required credentials, then use Collector's URL as the value for `OTLP_ENDPOINT`.
 
 Electric always adds the following resource attributes to events:
 
@@ -40,8 +48,8 @@ Electric will also load additional resource attributes from `OTEL_RESOURCE_ATTRI
 
 You can find an example of a docker compose that runs Electric with an OpenTelemetry Collector agent that sends telemetry data to Honeycomb under `packages/sync-service/dev`.
 
-Set `HNY_DATASET` and `HNY_API_KEY` with your Honeycomb information and start the compose file like:
+Set `HNY_DATASET` and `HNY_API_KEY` environment variables in a terminal session and run docker compose in it like so:
 
 ```shell
 docker compose -f docker-compose-otel.yml up
-```
+```